BMW expects a hit to revenues of up to half a billion euros ($579 million) in 2019 if tariffs between the United States and China stay in place, Chief Financial Officer Nicolas Peter informed Automobilwoche magazine. Tariffs between the United States and China have struck exports of sport-utility vehicles from its U.S. plant in Spartanburg,

German automaker BMW AG prepares more deals with mining companies to secure electric vehicle battery materials, and is open to establishing alliances to share the expenses of developing autonomous-vehicle systems, the automaker’s research and development chief informed Reuters. BMW management board member Klaus Froehlich stated automakers and large providers have started to discuss how to

U.S. automakers are dealing with increasing pressure amid sluggish demand in the country, as Asian and European auto companies strongly increase vehicle production in North America, including a recent investment by Daimler. In the recent move, Daimler prepares to invest $1 billion to broaden its Mercedes Benz assembly plant near Tuscaloosa, Alabama, to provide batteries

Daimler AG increased the most in three weeks after the business solidified its lead in the luxury-car market and said it’s positive of reaching this year’s hidden revenue objectives, regardless of over 1 billion euros ($1.1 billion) in one-time expenses in the second quarter. Changed revenues before interest and taxes increased 5.6 percent to 3.97

Mercedes-Benz outsold its high-end auto competitors in the United States in May, constructing its lead in a down month apparently due to ongoing need for its sport utility cars. Deliveries moved 1 percent from a year earlier to 29,299, the Daimler AG system stated in a statement Wednesday. Mercedes published a 64 percent advantage for

There is news that BMW is raising its sales figures for 2010 and also it’s earning forecasts for the year. This has been due to the better than expected sales of its cars in China combined with the robust demand for BMW AG’s new 5 series sedan. Buoyed by the good performance, the German luxury

BMW AG has been reported to forecast its 2010 sales growth by not more than single digit percentage. This is in spite of outperformed sales in the first five months of the year with a 14%-15% growth. The projections are reported to have been set assessing the tougher comparatives and global fiscal changes. At the

Bloomberg News in its columns has once again written about the possible sharing of parts and technology between BMW AG and Saab. They claim their information to be from two authentic sources. New about this joint collaboration had first been reported by the Swedish newspaper Dagens Industri. The sources requested anonymity as the discussions are

German luxury car makers Mercedes Benz, BMW AG and Audi has revealed that China continues to be the growth engine for luxury cars. To back it up with real figures, Mercedes-Benz disclosed that the sale of its range of cars has recorded a 100 percent growth to 11,300 vehicles for the month of April. BMW